UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (I.R.S. Employer Identification No.) Registrant's Telephone Number, Including Area Code: (225) 298-5200 Securities registered pursuant to Section 12(b) of the Act: ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 000-51759 H&E Equipment Services, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 81-0553291 (State or Other Jurisdiction of ...

H&E Equipment Services, Inc. (NASDAQ:HEES) Q2 2023 Earnings Conference Call July 27, 2023 10:00 AM ET Company Participants Jeff Chastain - Vice President of Investor Relations Brad Barber - Chief Executive Officer Leslie Magee - Chief Financial Officer and Corporate Secretary John Engquist - President and Chief Operating Officer Conference Call Participants Steven Ramsey - Thompson Research Group Alex Rygiel - B. Riley Securities Stanley Elliott - Stifel David Raso - Evercore ISI Operator Good morning, and ...

Financial Data and Key Metrics Changes - Total revenues for Q1 2023 increased by 18.4% year-over-year to $322.5 million, driven primarily by higher rental and used equipment sales [43][44] - EBITDA for Q1 2023 was $140.1 million, reflecting a 35.4% increase compared to the same quarter in 2022, with an EBITDA margin of 43.4%, up 540 basis points [10][22] - Net income rose by 57.5% to $25.7 million, or $0.71 per diluted share, compared to $16.3 million, or $0.45 per diluted share, in the prior year [46] Business Segment Data and Key Metrics Changes - Rental revenues increased by 31% to $232.1 million, supported by fleet growth and rental rate appreciation [19][34] - New equipment sales declined by 70% to $7.8 million, primarily due to the divestiture of the low-margin distribution business [20] - Used equipment sales rose by 49.2% to $32.1 million, attributed to a strong market for used equipment and effective fleet management [44] Market Data and Key Metrics Changes - The rental fleet's original equipment cost (OEC) grew by 28.1% or $534 million compared to Q1 2022 [32] - Dollar utilization improved to 38.6%, a 100-basis-point increase from the previous year [12][72] - The company reported a resilient business environment with strong project backlogs, particularly in non-residential and industrial segments, which accounted for 77% of revenues [37] Company Strategy and Development Direction - The company aims to open 10 to 15 new locations in 2023, focusing on greater density in key geographic regions [17][106] - The growth strategy includes significant improvements in the rental fleet, continued branch expansion, and opportunistic mergers and acquisitions (M&A) [16][96] - The company maintains a conservative capital structure with no senior net maturities until 2028, supporting its growth initiatives [74] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business environment, citing strong customer sentiment and a robust project pipeline, with more multiyear projects than in previous years [53][76] - The company anticipates modest sequential rental rate improvements throughout 2023, supported by favorable market dynamics [11][39] - Management noted that inflationary pressures and interest rate actions are being monitored, but have not yet impacted project financing [86] Other Important Information - SG&A expenses increased to 29.6% of revenues, up from 28.7% in the prior year, primarily due to branch expansion costs [23] - The average age of the rental fleet was 43.7 months, younger than the industry average of 51.9 months [48][120] - The company paid a regular quarterly dividend of $0.275 per share in Q1 2023, with intentions to continue this practice [73] Q&A Session Summary Question: How has customer feedback changed through the first quarter? - Customer sentiment remains strong, with no observed inflection points in project backlogs [53] Question: What are the expectations for SG&A leverage this year? - The company expects SG&A to remain flat relative to last year, balancing growth and expansion with cost management [55] Question: Are there challenges in financing projects? - There has been no reported impact on project financing from regional banks or customers, maintaining a positive outlook [86] Question: How is the integration of One Source progressing? - The integration of One Source has been successful, and the M&A pipeline remains strong with disciplined acquisition strategies [94][96] Question: What is the outlook for opening new locations? - The company expects to continue opening 10 to 15 locations annually unless economic disruptions occur [106]

April 27, 2023 First Quarter 2023 Company Participants | --- | --- | |-------------|-----------------------------------------------------| | | | | Brad Barber | CHIEF EXECUTIVE OFFICER | | | John Engquist PRESIDENT AND CHIEF OPERATING OFFICER | | | Leslie Magee CHIEF FINANCIAL OFFICER AND SECRETARY | | | Jeff Chastain VICE PRESIDENT OF INVESTOR RELATIONS | First Quarter 2023 Earnings Conference 2 HEES Forward-Looking Information Non-GAAP Financial Measures First Quarter 2023 Earnings Conference 3 Agenda FIR ...

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q For the transition period from to Commission file number: 000-51759 H&E Equipment Services, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 81-0553291 (State or Other Jurisdiction o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-51759 H&E EQUIPMENT SERVICES, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporat ...

Financial Data and Key Metrics Changes - The fourth quarter of 2022 saw total revenues increase by 25.6% year-over-year, reaching $353.1 million, driven by a 34.6% increase in rental revenue [15][89] - EBITDA improved by 56.1% year-over-year, totaling $171.5 million, resulting in an EBITDA margin of 48.6% [94] - Net income for the fourth quarter was $51.2 million, or $1.41 per diluted share, compared to $21.7 million, or $0.59 per diluted share in the prior year [69] Business Line Data and Key Metrics Changes - Rental revenue reached a record $245 million in the fourth quarter, up 34.6% year-over-year, with rental margins improving to 53.1% [80] - Used equipment sales improved to $30.2 million in the fourth quarter, compared to $29.5 million in the same quarter of 2021 [66] - New equipment sales declined by 4.5% to $21.5 million compared to the previous year [91] Market Data and Key Metrics Changes - The company reported a dollar utilization rate of 41.9% in the fourth quarter, which was 260 basis points better than the same quarter in 2021 [56][107] - The average physical fleet utilization in the fourth quarter was 72%, despite typical seasonal pressures [81] - Rental penetration improved by 150 basis points to 53.8% in 2022 compared to 2021, indicating a positive trend for rental demand [84] Company Strategy and Development Direction - The company plans to add between 10 to 15 new locations in 2023, focusing on geographic expansion and increasing location density in key markets [60] - A gross fleet investment target of $500 million to $550 million is set for 2023 to support existing stores and new branch locations [60] - The strategic transition to a pure-play rental business is expected to enhance revenue stability and margin appreciation [53] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the industry outlook for 2023, citing favorable trends in end markets and expected increases in federal spending on infrastructure [57][58] - The company anticipates continued demand for equipment driven by a shift towards rental due to rising interest rates and supply chain delays [58] - Management noted that while rental rate improvements are expected, they will not reach the record-setting levels seen in the previous year [22][23] Other Important Information - The company ended 2022 with a liquidity position of approximately $800 million and no senior unsecured note maturities until 2028 [16] - SG&A expenses as a percentage of revenue decreased to 26.8% in the fourth quarter, down from 27.5% in the prior year [71] - The average fleet age increased to 43.6 months, still favorable compared to the industry average of 53.3 months [96] Q&A Session Summary Question: How much of a factor are mega projects in recent results? - Management indicated that mega projects are becoming a meaningful market opportunity and are currently active in various regions [2][4] Question: Can you discuss SG&A leverage in 2023? - SG&A expenses were noted to be 27.6% of revenues for the full year 2022, with expectations to maintain this level moving into 2023 [8] Question: What is the outlook for rental gross margin considering acquisitions? - Management acknowledged that acquisitions may create near-term headwinds on rental margins due to additional depreciation but expressed confidence in long-term performance [36][37] Question: How do you see rental rate improvements translating year-over-year? - Management expects modest sequential quarterly rate improvements but does not anticipate another 10% increase [39][22] Question: What is the impact of the Komatsu distribution sale on future performance? - The sale is expected to affect new equipment sales significantly, but the parts and service business will not decline at the same rate [116]

FOURTH QUARTER 2022 EARNINGS CONFERENCE February 22, 2023 Earnings Conference NASDAQ: HEES Fourth Quarter 2022 Company Participants Brad Barber CHIEF EXECUTIVE OFFICER John Engquist PRESIDENT AND CHIEF OPERATING OFFICER Leslie Magee CHIEF FINANCIAL OFFICER AND SECRETARY Jeff Chastain VICE PRESIDENT OF INVESTOR RELATIONS February 22, 2023 Fourth Quarter 2022 Earnings Conference 2 Legal Disclaimers Forward-Looking Information This presentation contains "forward-looking statements" within the meaning of the fe ...

H&E Equipment Services, Inc. (NASDAQ:HEES) Q3 2022 Earnings Conference Call October 27, 2022 10:00 AM ET Company Participants Jeff Chastain - Vice President of Investor Relations Bradley Barber - Chief Executive Officer John Engquist - President and Chief Operating Officer Leslie Magee - Chief Financial Officer & Secretary Conference Call Participants Steven Ramsay - Thompson Research Group Stanley Elliott - Stifel Operator Good morning, and welcome to H&E Equipment Services Third Quarter 2022 Earnings Conf ...